The 1923 Peace Dollar: A Symbol of Hope, Silver Standard Decline, and Collector's Delight

What's the Deal with the 1923 Peace Dollar?

A mainstay in the Peace dollar series, the 1923 issue stands out as the second most minted coin, boasting a massive 30,800,000 pieces. Despite its hefty mintage, this coin remains widely available in circulated grades.

A Symbol of Renewed Hope

Anthony de Francisci's design for the Peace dollar features a youthful Lady Liberty, a poignant reminder of the hope for peace that emerged after the horrors of World War I. The young lady's radiant crown, strikingly resembling the Statue of Liberty's, adds a touch of familiarity and patriotism to the coin.

The Silver Standard's Decline

The silver dollar has a long and storied history in the United States, dating back to 1794. However, its dominance as a circulating medium waned over time. Despite efforts to revive the coin, the Peace dollar's circulation dwindled. In the 1960s, a massive run on silver dollars depleted the Treasury's stockpile, leading to the coin's discontinuation.

Precious Metal or Collectible?

Today, the Peace dollar is primarily traded as a collectible or store of precious metal. Its silver content far exceeds its face value, making it a valuable asset in the eyes of investors.

Market Trends

In the 1970s, dealers were selling GEM BU 1923 Peace dollars for $10 apiece. Fast forward to today, the bullion value of circulated coins fluctuates based on the price of silver. For uncirculated coins, the value depends heavily on the grade.

Top Population

PCGS and NGC boast the highest populations of MS67+ 1923 Peace dollars. However, the PCGS population has seen a significant increase in recent years, potentially impacting prices in this grade.

Notable Sales

Several notable MS67+ 1923 Peace dollars have commanded impressive prices at auctions. PCGS MS67+ CAC #47418129 sold for $27,025 in 2023, while NGC MS67+ #6325661-004 fetched $4,800 in the same year.

Design Details

• Obverse: A leftward-facing Lady Liberty with a tiara of rays, resembling the Statue of Liberty's crown. Inscriptions include LIBERTY, 1923, IN GOD WE TRVST, and the designer's monogram AF.
• Reverse: An American bald eagle perched on a mountaintop, clutching an olive branch and facing a sunrise. Inscriptions include UNITED STATES oF AMERICA, E PLURIBUS UNUM, ONE DOLLAR, and PEACE.
• Edge: Reeded

Designer Profile

Anthony de Francisci, born in Sicily and later immigrating to the United States, was a renowned sculptor and numismatic artist. The Peace dollar remains his most famous creation, showcasing his exceptional talent.

Coin Specifications

• Country: United States of America
• Year of Issue: 1923
• Denomination: One Dollar (USD)
• Mint Mark: None (Philadelphia Mint)
• Mintage: 30,800,000
• Alloy: 90% Silver, 10% Copper
• Weight: 26.73 g
• Diameter: 38.10 mm
• Edge: Reeded
• Obverse Designer: Anthony de Francisci
• Reverse Designer: Anthony de Francisci
• Quality: Business Strike